India's Remarkable Journey, 350 to 1 lakh Startups in 9 years

1 lakh Startups in 9 years

1 lakh Startups in 9 years: India’s journey of growth in the startup sector and technological advancement has been truly astonishing. Dr. Jitendra Singh, the Union Minister of State for Science & Technology, Personnel, Atomic Energy, and more, recently addressed the North Tech Symposium 2023 at IIT Jammu, shedding light on India’s remarkable strides in various domains under the visionary leadership of Prime Minister Narendra Modi.

Download Free February 2024 BOLT PDF (Current Affairs)

From 350 to 1 lakh Startups: An Extraordinary Leap

Under the dynamic leadership of Prime Minister Narendra Modi, India has undergone a remarkable transformation, witnessing an astounding increase in startups. In just nine years, the nation has catapulted from a modest 350 startups to an incredible 100,000. This extraordinary growth not only underscores India’s entrepreneurial vigor but also underscores the country’s commitment to inclusive growth and sustainable development through technological innovations.

Revolutionizing Defense with Cutting-Edge Technologies

During his address, Dr. Jitendra Singh emphasized India’s keen awareness of the potential of disruptive technologies in revolutionizing its defense landscape. Technologies such as Cybersecurity, Quantum Computing, Artificial Intelligence, and Unmanned Aerial Vehicles (UAVs) are being harnessed to bolster national security while elevating India’s status as a global leader in defense technology.

National Mission on Inter-disciplinary Cyber-Physical Systems

Dr. Jitendra Singh also highlighted some key disruptive technologies that have been developed or are in progress as part of the National Mission on Inter-disciplinary Cyber-Physical Systems. These initiatives encompass secure mobile phone development for defense personnel, quantum technologies, indigenous nano drones, and naval combat management systems. These innovations are continually evolving and hold the potential to redefine military operations in the modern era.

Startup Revolution: A Paradigm Shift

Dr. Jitendra Singh reiterated that India’s startup ecosystem has witnessed a paradigm shift under Prime Minister Modi’s astute leadership. Prior to 2014, India had a mere 350 startups. However, with the launch of a dedicated startup scheme in 2016, India has witnessed a meteoric rise, with over 100,000 startups and more than 110 unicorns. The biotech sector has undergone an equally impressive transformation, with the number of startups surging from a mere 50 to an impressive 6,000.

Unleashing India’s Space Potential

One of the most significant accomplishments under Prime Minister Modi’s leadership has been the liberation of India’s space sector. India’s space economy has surged to approximately $8 billion, with the potential to reach $40 billion by 2040. As per the ADL (Arthur D Little) Report, India’s space economy could potentially scale up to a staggering $100 billion by 2040, signifying a monumental leap in this sector.

Space Technology Accessible to the Masses

Dr. Jitendra Singh stressed that the unlocking of space technology has made it accessible to the common people in India, allowing them to witness grand space events such as Chandrayaan-3 and Aditya. Thousands of individuals gathered to witness these launches, underscoring India’s growing interest and involvement in space exploration.

India as a Global Partner

In conclusion, Dr. Jitendra Singh emphasized that the world now regards India as an equal partner in various domains. The recently concluded G20 summit, with the adoption of the Delhi Declaration, showcased India’s technological prowess and economic resilience. India’s G20 presidency coincided with its achievements in space technology, epitomized by the successful launch of Chandrayaan-3, firmly establishing India as a leader in space technology.

Conclusion: 1 lakh Startups in 9 years

India’s remarkable transition from 350 startups to 100,000, its strides in defense technologies, and its achievements in space exploration all underscore the nation’s dedication to progress and innovation. Under the dynamic leadership of Prime Minister Narendra Modi, India is poised to continue its journey toward becoming a global technological powerhouse.

Priti Palit

Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti’s expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

Oliveboard Live Courses & Mock Test Series